Johnny Isakson: “What has to do with the merits of this legislation is ensuring predictable student loans at competitive and favorable…”

“What has to do with the merits of this legislation is ensuring predictable student loans at competitive and favorable rates for American students that otherwise might not or would not get the student opportunity to receive a higher education. Secondly, it is important, as the gentleman from New Jersey (Mr. Andrews) has pointed out, that we provide the ability to lock in rates and have a fixed rate repayment so those families that are struggling to meet the demands of paying back their cost and ensuring that their child gets a higher education have a predictable, consistent flow and rate. Third, it is important to understand that any time you put indexes and formulas into the law to affect the rates or the guarantees on any program there are going to be periodic needs for adjustment, and now is the periodic need for that adjustment.”